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Re-Inventing Retail

From the Co-Founders of The Retail Owners Institute.
Tips | Tactics | Insights on the Business of Retailing.

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Sound merchandise management is crucial for the survival and prosperity of your retail business.

For example, say you’re currently keeping about $150,000 tied up in inventory

You discover that a carefully-monitored merchandise management (or “Open-to-Buy”) plan can cut that by 10 percent

That means you’ve just freed up $15,000 in cash for more prudent investment!

Chances are you have slack of at least 10% in your inventory right now! (And remember, the same math applies if your inventory is $1.5 million, or $15 million, or more! How much cash does 10% of that represent?)

Consider what a good merchandise plan can do for your business:

improve your inventory turnover

cut your inventory carrying costs

help you keep your inventory fresh—thereby cutting markdowns and closeouts.


In short, it could help you make more money!

 

Though making a buying plan takes time and effort, it pays off when you begin seeing your merchandise inflow closely matching your sales patterns.

Ready to bring that inventory into line? Go here in The ROI's Library for Owners for Merchandise Planning: Back to the Basics.



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About The Co-Founders

Pat Johnson and Dick Outcalt, The Co-Founders of The Retail Owners Institute®, have been called "The Zen masters of retail finance!"

Since 1999, they have been assembling  their proprietary content into a unique self-help website. The Retail Owners Institute is an unmatched resource that assists retailers worldwide with basic financial training, assistance and easy-to-use tools.

Their engaging and empowering how-to resources about the financial levers in retailing are informative, fun(!), and retailer-friendly. Their promise: "Everyone will 'get it'!"

Pat and Dick are recognized experts in strategic retailing. Working only as a team – Outcalt & Johnson: Retail Strategists, LLC – they have been consulting, publishing, and speaking professionally throughout North America since 1990.

They focus exclusively on retail, or wherever retail is involved. They work with CEOs, CFOs, boards and owners of retail operations, as well as manufacturers or wholesalers expanding into retail. And they also are Retail Turnaround Experts.


Since 1999, empowering retailers and store owners to "Turn on your financial headlights!"